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Aston Martin CEO Andy Palmer to leave in favor of AMG chief Tobias Moers

Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate. Palmer and Germany's Daimler, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment. The Financial Times newspaper had reported earlier that the Aston Martin chief was going to leave as part of a shake-up of its leadership, with an official announcement expected on Tuesday. Palmer had not been informed of the upcoming announcement, the newspaper reported. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. The company has been banking on its sport utility vehicle to drive sales in a new segment, and said production was on track. In January, dire conditions forced the company to bring in Canadian billionaire Lawrence Stroll who bought a roughly 20% stake for nearly 200 million pounds ($263 million), as the ailing carmaker sought to raise funds. The coronavirus pandemic and shutdowns caused by it have hit demand and forced factories around the world to suspend production, negatively impacting many industries, including car manufacturers. "We were obviously fairly significantly hit by COVID-19, starting with China in January but more clearly in what we saw as it came across towards Europe and the United States," Palmer told Reuters earlier in May. Related Video:

2017 Mercedes-AMG C63 Coupe unleashed with 503 hp [w/video]

The Mercedes-AMG C63 Sedan is a truly fantastic car. The recently revealed Mercedes-Benz C-Class Coupe is a seriously pretty two-door. Combine the two, and you get the 2017 Mercedes-AMG C63 Coupe that'll debut at the Frankfurt Motor Show next month. The AMG C63 Coupe takes everything we love about the sedan and puts it into the sleeker coupe body. It's equal parts aggression and elegance, and it's got the performance and luxury substance to back up both of those attributes. Under the hood is the same twin-turbo, 4.0-liter V8 as the C63 sedan, with two different states of tune. Standard C63 models get 469 horsepower and 479 pound-feet of torque, while the C63 S ups those numbers to 503 and 516, respectively. Running to 60 miles per hour takes 3.9 seconds in the standard car or 3.8 seconds with the S, and the coupes are limited to either 155 or 180 miles per hour, depending on specification. Both versions of the C63 use Mercedes' AMG Speedshift seven-speed automatic transmission. Inside, it's all C-Class Coupe, which is to say, it's lovely. Same goes for all of the ride and handling bits – there's no doubt in our mind that the C63 Coupe will be just as much fun as its four-door sibling on both road and track. We'll see the AMG C63 Coupe next month, but American deliveries won't start until the summer of 2016, hence the 2017 model year designation. We're licking our chops in anticipation. The sportiest C-Class ever Mercedes-AMG is setting another milestone in the brand's history: the new 2017 AMG C63 Coupe is the next step on the way to more technical and visual distinctiveness. The far-reaching technical modifications are evident at first sight: strikingly flared front and rear wheel arches, an increased track width and larger wheels give the C63 Coupe a muscular look while also providing a basis for highly agile longitudinal and lateral dynamics. The brand's typical "Driving Performance" is also taken to new heights with the C63 Coupe. The AMG 4.0-liter V8 biturbo engine, with 469 hp in standard trim or 503 hp in the C63 S, is a completely in-house development from Affalterbach. In addition, the sophisticated AMG RIDE CONTROL suspension with electronically controlled shock absorbers, the set-up of the AMG DYNAMIC SELECT transmission modes, the rear-axle limited-slip differential and the dynamic engine mounts have all been developed by AMG. The C-Class is Mercedes-AMG's best-selling model and forms the backbone of the company's success.

Escape the dinosaurs in Jurassic World with Mercedes-Benz [w/video]

This year looks to be a big one for blockbusters. Furious 7 and Avengers: Age of Ultron are already hits, and more major premieres are on the way all the way up to the return of Star Wars in December. One of the next highly anticipated flicks due is Jurassic World, and Mercedes-Benz is throwing its marketing muscle behind the movie to showcase some of the brand's rugged vehicles. While we already know about its appearance in the film, the GLE-Class Coupe gets to play a pretty big role because Bryce Dallas Howard's character drives one of the new crossovers around the dinosaur-infested island. As previously teased, a G63 AMG 6X6 also plays a part in the flick. Mercedes is showing off a standard G-Class, Unimog, and Sprinter to do some offroad work in the park, as well. Among the advertising efforts, Mercedes has a print ad for the GLE-Class Coupe with the film's monstrous Indominus Rex dino, and you can check it out in the gallery above. Also, the company has a commercial showing off some of the vehicles in action in the movie, which you can watch below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mercedes-Benz Launches Campaign to Support Universal Pictures and Amblin Entertainment's Jurassic World The dinosaurs are back Stuttgart. This summer, when the long-awaited next installment of the groundbreaking Jurassic Park series, Jurassic World, arrives in theaters, an entire fleet of Mercedes-Benz vehicles will share the spotlight. Alongside the iconic G-Class, Unimog, Sprinter models and the all-new GLE Coupe will play a leading role in the epic action-adventure. Mercedes-Benz will accompany the release of the film with a comprehensive co-promotional package that includes a television commercial, print and online advertising, dedicated microsites and social-media activities. The commercial, starring the Mercedes-Benz vehicles from the film, launches today in the U.S. and Europe. Additionally, a custom key visual was developed for all communication in which the all-new GLE Coupe is seen eye-to-eye with the film's fearsome Indominus rex. "In 1997 the Mercedes-Benz M-Class made its first official appearance in the Hollywood Blockbuster 'The Lost World: Jurassic Park'. Today, 18 years later, another Mercedes-Benz car will debut in a significant role in the latest installment of the groundbreaking Jurassic Park series named Jurassic World: the new GLE Coupe", says Dr.